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Solera Holdings' CEO Discusses F2Q2012 Results - Earnings Call Transcript

We also plan to discuss certain non-GAAP financial measures on this call. A reconciliation of Solera's non-GAAP financial measures to GAAP financial measures is included in today's press release which is available on the Investor Relations section of our company website at solerainc.com.

When we refer to analyst consensus during this call, we mean the consensus results on an actual currency basis of certain analysts that cover the company as reported on Thomson FirstCall.

We measure constant currency or the effects on our results that are attributed to changes in foreign currency exchange rates by measuring the incremental difference between translating the current and prior period results at the monthly average rate of the same period from the prior year. Unless otherwise stated, all period-to-period revenue, adjusted EBITDA and margin comparisons are on a constant currency basis.

When we refer to direct competitors, we mean companies that we compete with in vehicle claims processing. When we refer to run rate, waste savings or synergies, we mean the savings to be realized over each 12-month period following the execution of these efforts. Amounts and percentages throughout our remarks reflect rounding adjustments.

All information discussed during this call and webcast is protected by United States copyright law and cannot be produced, distributed, transmitted, displayed, published or broadcast without prior written consent permission of Solera Holdings, Inc.

I would now like to introduce Tony Aquila, our founder, Chairman and CEO.

Tony Aquila

Thank you, Kamal. Good afternoon, everyone, and thanks for joining us today.

We are pleased with our second quarter results which demonstrate progress from our continued investment in the business. Total revenue growth came in at 17.7% versus the prior-year period. Our adjusted EBITDA margin came in at 44.2%, up over 130 basis points year over year, including the impact of continuing headwinds in two of our major European markets. We achieved this margin while continuing to absorb recently completed acquisitions and increasing our investments in product innovation centers and new geographies now up to 61 countries.

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